WAKE UP EVERYONE...YOU'RE MISSING THE BOAT....
ONEWORLD SYSTEMS ANNOUNCES $10 MILLION IN NEW FINANCING
ONEWORLD SYSTEMS ANNOUNCES $10 MILLION IN NEW FINANCING
Integral Capital Partners and Hambrecht & Quist are Lead Investors
SUNNYVALE, Calif., March 3 /PRNewswire/ -- OneWorld Systems(TM), Inc.
(OTC Bulletin Board: OWLD) announced today that it will receive $10
million in financing from Integral Capital Partners, a leading
technology investment firm based in Menlo Park, California, and from
Hambrecht & Quist, a leading investor and underwriter for technology
growth companies. Kevin Compton, partner at Kleiner Perkins Caufield &
Byers, is also participating in this financing.
In a private placement, the company is selling 620,000 Units at a cost
of approximately $16.30 per unit. Each Unit consists of 13 shares of
newly issued and unregistered Common Stock, and 5 shares of newly
issued and unregistered Series A Preferred Stock. Each share of Series
A Preferred Stock is convertible into 10 shares of the Company's Common
Stock. The transaction is expected to close in the next few days upon
the routine exchange of final documents.
"Our investment approach is to invest in companies that are in
exploding market segments and who are changing the rules of the game,"
said Roger McNamee, general partner of Integral Capital Partners.
"According to IDC/LINK, there are over 1.1 million small businesses
with local area networks and that number is expected to double by the
year 2001. OneWorld Systems has a long-standing history of making
communications products that are more integrated and fundamentally
easier to use than competing products. Armed with hot new products and
a new team of investors, OneWorld is poised to rewrite the rules in
small business data communications," McNamee added.
"Hambrecht & Quist, making its first investment from its new Access
Technology Partners, L.P. fund, is excited about the investment and
business opportunity represented by OneWorld Systems," said Daniel H.
Case III, Chairman and CEO, Hambrecht & Quist. "We believe in
OneWorld's products and the market opportunity they have to provide
sophisticated 'big business' communications solutions without the 'big
business' costs and complexities. We think that the management team
understands the unique dly adopted mechanical solid modeler in recent
years, is a revolutionary design tool that incorporates the first, new
solid modeling architecture in a decade, taking Windows(R)-based
engineering to new levels of productivity and functionality. With all
the features expected of a production product development tool and,
more importantly, those features unique to IronCAD, mechanical
engineers are embracing e-Engineering(TM) -- total Design Chain
integration. IronCAD's Design Flow(TM) Architecture is the backbone of
e-Engineering, and this advanced architecture, patented technologies,
and the power of the web enable everyone in the Design Chain to
contribute without regard to who built the model, how it was created,
or which CAD system was used. Since its release in June, 1998, IronCAD
has received many awards, including NDES 1998 Best of Show winner by
Cadence magazine, Archimedes CAD Competition 1998 winner at M/Tech
1998, 1998 Computer Graphics World Innovation Award, and NASA Tech
Briefs February, 1999 Product of the Month.
About Visionary Design Systems
Visionary Design Systems, Inc. (VDS) invents, creates and
implements computer-based solutions and services for mechanical
engineering product development worldwide. The company develops
state-of-the-art productive solid modeling applications and offers
support, implementation, training and consulting services. Founded in
1990, VDS is a privately held company funded by Benchmark Capital,
Sutter Hill Ventures, Hambrecht & Quist, and CAD/CAM industry veteran
Don Feddersen. VDS has headquarters in Santa Clara, California, and
serves customers from sales and support offices throughout the United
States. VDS can be reached via phone at 408-969-8000 or on the
Internet at vds.com and at ironcad.com.
SOURCE Visionary Design Systems, Inc.
-0- 03/03/99 /CONTACT: Tim Cox of Z!ng
Public Relations, 650-592-5834, tim@zingpr.com, for Visionary Design
Systems, Inc.; or Bette Pearlin of Visionary Design Systems, Inc.,
408-969-8002, bette_pearlin@vds.com/
/Web site: ironcad.com /Web site: vds.com
CO: Visionary Design Systems, Inc. ST: California IN: CPR SU: PDT
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